Indian
furniture changing rapidly on every aspect like growing demand by 20% every
year. Size of furniture market is growing and many companies entering in this
line so market competition is growing for small vendor.
Indian Furniture Industry As of 2015, the Indian furniture market is estimated to be worth US$ 17,922 million. Of this, wooden furniture accounts for US$ 5,358 million. (US$ 852 million) of this (wooden furniture) is imported and imports are growing at 50 to 60 per cent every year. India was the largest furniture importer in the world , with a 19 per cent share in the furniture imports worldwide. A total of 10, 476 importers shipped furniture to India during this period, mainly from Italy, Germany, Spain, China, Korea, Malaysia, Indonesia, Philippines and Japan. The furniture sector in India makes a marginal contribution to the Gross Domestic Product (GDP), representing about 0.5 per cent of the total GDP. The major part of this industry, approximately 85 per cent is in the unorganized sector.
Manufacturing of furniture is growing and also few of them using latest machinery from German and China. and export of furniture from India is also growing rapidly due to variety of range and small lot size as er test of buyer.
A and B type cities together constitute 33 per cent of the total market. With a healthy economy and increased household and institutional spending, the market is growing steadily. Furniture Industry Composition As with the global market, home furniture is the largest segment in the Indian furniture market, accounting for about 65 per cent of furniture sales. This is followed by, the office furniture segment with a 20 per cent share and the contract segment, accounting for the remaining 15 per cent.
Due to growth of income people are spending more on expensive furniture and few of them change furniture in 5 to 10 year. Industrial furniture demand in growing for metro cities and they change furniture in 2 years.
Indian Furniture Industry As of 2015, the Indian furniture market is estimated to be worth US$ 17,922 million. Of this, wooden furniture accounts for US$ 5,358 million. (US$ 852 million) of this (wooden furniture) is imported and imports are growing at 50 to 60 per cent every year. India was the largest furniture importer in the world , with a 19 per cent share in the furniture imports worldwide. A total of 10, 476 importers shipped furniture to India during this period, mainly from Italy, Germany, Spain, China, Korea, Malaysia, Indonesia, Philippines and Japan. The furniture sector in India makes a marginal contribution to the Gross Domestic Product (GDP), representing about 0.5 per cent of the total GDP. The major part of this industry, approximately 85 per cent is in the unorganized sector.
Manufacturing of furniture is growing and also few of them using latest machinery from German and China. and export of furniture from India is also growing rapidly due to variety of range and small lot size as er test of buyer.
A and B type cities together constitute 33 per cent of the total market. With a healthy economy and increased household and institutional spending, the market is growing steadily. Furniture Industry Composition As with the global market, home furniture is the largest segment in the Indian furniture market, accounting for about 65 per cent of furniture sales. This is followed by, the office furniture segment with a 20 per cent share and the contract segment, accounting for the remaining 15 per cent.
Due to growth of income people are spending more on expensive furniture and few of them change furniture in 5 to 10 year. Industrial furniture demand in growing for metro cities and they change furniture in 2 years.
Mass production is help cost reduce so people using other material in place of MDF and ply.
